Treasury Secretary Steven T Mnuchin said, the new Terrorist Financing Targeting Center will enhance existing tools and cooperation with partners in the Gulf to forcefully address evolving threats. 
After the signing of MoU, Department of Treasury said, US and six GCC countries are confronting new and evolving terrorist networks including Islamic State, Al-Qaeda, Hizbollah, Lashkar-e-Taiba, the Taliban, and the Haqqani Network. The six countries along with the US are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. 
According to the MoU, the signatory countries intend to identify, track, and share information regarding terrorist financial networks and related activity of mutual concern, including related threats emanating from countries and terrorist organisations. Gulf countries are a major source of funding major terrorist organisations across the globe including LeT which is responsible for major terror attacks in India.